Corbat responded, by saying: "Trade is not dead. Trade is secular, not cyclical."
"When we look at growth rates, sure, the whole world slowed. But the relationship between the developed and developing markets [is] very much intact. Emerging markets [are] still growing at nearly two times the pace of developed markets," Corbat said.
On Tuesday, Citigroup outlined an ambitious plan to grow profit and return at least $60 billion to shareholders. In its first major investor conference in more than nine years, management described the blueprint as a sign Citi has finally regained its footing after the 2008 financial crisis when it needed three bailouts to survive.
Earlier this month, Citigroup reported better-than-expected second-quarter results. But the bank mentioned a slowdown in stock trading results.